I bought today.....

[Burnsey]

How many tabs does it have tho?? I have about 15 sheets in my master plan lol

I dare not say

Must admit, since having a spends only account, I have relaxed somewhat.

Bill amounts are not fixed, but they do tend to average, so although a Standing Order works for some, I prefer a manual transfer into the bill accounts.

As I say, reducing that to one and I've effectively got two accounts. Well, plus the travel account, Euro account, credit card accounts

 

[timd77]

Interesting diversion from I bought today!!

We have separate current accounts, both earn similar amounts, I pay for the mortgage, wife pays for bills, leaves us with similar surplus income.

In my younger days I got myself into financial strife, running out of money a week or so before pay day, having to spend on CCs and overdraft. Managed to sort myself out, the way I did that was having a spreadsheet for income and outgoings and 2 current accounts, 1 for bills, 1 for spending. On pay day I update it, what ever’s left gets transferred to various savings (rainy day, golf obviously, holidays etc) and then the rest to another current account as my spending money for the month. Update the spreadsheet every few days, it’s correct to the penny!

 

[sunshine]

Interesting diversion from I bought today!!

We have separate current accounts, both earn similar amounts, I pay for the mortgage, wife pays for bills, leaves us with similar surplus income.

In my younger days I got myself into financial strife, running out of money a week or so before pay day, having to spend on CCs and overdraft. Managed to sort myself out, the way I did that was having a spreadsheet for income and outgoings and 2 current accounts, 1 for bills, 1 for spending. On pay day I update it, what ever’s left gets transferred to various savings (rainy day, golf obviously, holidays etc) and then the rest to another current account as my spending money for the month. Update the spreadsheet every few days, it’s correct to the penny!

Do you also download your bank statements every morning and upload it into your system to reconcile your transactions?

 

[sunshine]

I had a few accounts and whittled it down

To be fair, this year, I will pop all the DD's over to one account and then would say that's normal. I just had the accounts, they've been operating for some time and with autorenew, plus laziness to swap over, just always had two bill accounts. More evolved than planned.

Transfer a sum over from business to personal - currently two, but no big deal - then ignore those accounts for the month. Repeat 11 more times each year.

Spends account is spends account - when it's gone it's gone.

Savings account isn't unusual I would have thought?

Shall we discuss the spreadsheet I use and enter every single transaction as it happens

This is only half the story. I assume you also maintain a balance sheet?

 

[Burnsey]

This is only half the story. I assume you also maintain a balance sheet?

No, but it’s reconciled to within an inch of its life.